Brookfield eyes big private equity push

Canadian property behemoth’s buyout business has only $7.7B in assets under management -- well behind Blackstone, Carlyle

TRD New York /
Jan.January 13, 2016 10:30 AM

Brookfield Asset Management, the massive, fast-growing Toronto-based alternative asset manager, is plotting a major expansion of its private equity business.

The firm is looking to challenge buyout giants the Blackstone Group, the Carlyle Group and KKR.

It has a ways to go. Brookfield’s private equity division, which is expected to be spun off from the parent company in the next few months, currently has only $7.7 billion under management.

That’s compared to $91 billion for Blackstone and $63 billion for Carlyle.

Still, the company – whose Brookfield Property Partners division is building the $8.6 billion Manhattan West project along with the Qatar Investment Authority – is not to be counted out. BAM has increased its book value nearly tenfold since Flatt took up his position back in 2002, outperforming iconic investment firms like Warren Buffett’s Berkshire Hathaway, Bloomberg reported.

Dennis Friedrich, who headed Brookfield Property Partners’ global office arm since 2012, announced he’d be retiring this week amid rumors he saw the firm’s increasing complexity diminishing his future role. [Bloomberg]Ariel Stulberg


Related Articles

arrow_forward_ios
Brookfield Property Group CEO Brian Kingston and 652 11th Avenue (Credit: Google Maps)

Brookfield drops $83M on Hell’s Kitchen hotel

M&T CEO René Jones and Brookfield managing partner Ben Brown with 5 Manhattan West (Credit: M&T, Brookfield, and Wikipedia)

Brookfield lands $184M refinancing for Manhattan West retail

Two Manhattan West and Brookfield Managing Partner Ben Brown

Brookfield seeks nearly $80M in tax breaks for 2 Manhattan West

CalSTRS will acquire Fairfield Residential and its nationwide portfolio

VTS co-founder Nick Romito (Credit: iStock)

VTS raises $90M to join the ranks of unicorns

Brookfield Property Partners CEO Brian Kingston 

Brookfield is getting into the Opp Zone game

Brookfield’s $4.7B Oaktree deal could bolster firm for downturn

Brookfield puts massive Putnam Portfolio up for sale

arrow_forward_ios